The CEO of Voyant Beauty, a leading contract manufacturer to the personal care and beauty industry, credits SGS Maine Pointe's Total Value Optimization (TVO)™ approach with helping his organization align and synchronize the supply chain and drive bottom-line benefits for themselves and their customers.
The video describes:
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The challenges facing the organization after acquiring three companies
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The solutions were implemented as part of a step-by-step TVO journey in order to integrate the three companies, starting with sourcing and operations
The results:
- Used data analytics to deliver visibility to spend that the CFO didn’t have and create a compelling business case for change
- Aligned payment terms to release working capital
- Delivered packaging, MRO and standardized chemical cost savings in excess of 10%
- Achieved savings as high as 25% in some categories
- Consolidated suppliers in MRO from over 700 to less than 10
- Delivered an ROI of 3.8:1 for this phase of the supply chain transformation journey
- Encouraged customer interaction on directed spend issues that are key for long-term success
- Trained and developed the employee base in standardized procurement processes